- right of redemption
right of redemption: the right to regain ownership of property by freeing it from a debt, charge, or lien (as by paying to the creditor what is due to release the secured property); specif: a mortgagor's statutory right to redeem after a judicial foreclosure and sale
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
- right of redemption
Collins dictionary of law. W. J. Stewart. 2001.
Look at other dictionaries:
Right Of Redemption — The legal right of any mortgagor or borrower who owns real estate to reclaim his or her property. Right of redemption gives property owners who pay off the back taxes or liens on their property the ability to prevent foreclosure or the auctioning … Investment dictionary
right of redemption — the legal right to regain ownership of property that one has formerly enjoyed by freeing it from a debt, charge, or lien, (as by paying to the creditor what is due to release the secured property) compare equity of redemption … Useful english dictionary
right of redemption — See equity of redemption; redemption … Ballentine's law dictionary
right of redemption — The right to recover property that has been attached by paying off the debt . Bloomberg Financial Dictionary … Financial and business terms
sale with right of redemption — A sale in which vendor reserves right to take back property by returning price paid. See also sale on approval sale or return, above … Black's law dictionary
legal right of redemption — The right of a mortgagor, in a jurisdiction where a mortgage has the effect of vesting title in the mortgagee, to pay the mortgage debt and thus avoid the effect of the mortgage as a transfer of title. Stevens v Turlington, 186 NC 191, 119 SE 210 … Ballentine's law dictionary
redemption — re·demp·tion /ri demp shən/ n: the act, process, or fact of redeeming see also equity of redemption, right of redemption re·demp·tive / demp tiv/ adj Merriam Webster’s Dicti … Law dictionary
right — / rīt/ n [Old English riht, from riht righteous] 1 a: qualities (as adherence to duty or obedience to lawful authority) that together constitute the ideal of moral propriety or merit moral approval b: something that is morally just able to… … Law dictionary
Redemption in the Old Testament — • Strictly deliverance by payment of a price or ransom, or simply deliverance by power, as from oppression, violence, or captivity Catholic Encyclopedia. Kevin Knight. 2006. Redemption in the Old Testament Redemp … Catholic encyclopedia
redemption — The realization of a right to have the title of property restored free and clear of the mortgage; performance of the mortgage obligation being essential for that purpose. The right of a debtor, and sometimes of a debtor s other creditors, to… … Black's law dictionary